 | Additions to Market Indices and the Comovement of Stock Returns Around the World Author/Editor: Yishay Yafeh, Stijn Claessens. Release Date:March, 2011 Using newly-constructed data covering the last decade, we document that, in most of forty markets, when added to the main index, firms’ returns experience an increase in comovement with the rest of more...
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| Financial Frictions, Investment, and Institutions Author/Editor: Yishay Yafeh, Kenichi Ueda, Stijn Claessens. Release Date:October, 2010 Financial frictions have been identified as key factors affecting economic fluctuations and growth. But, can institutional reforms reduce financial frictions? Based on a canonical investment model, more...
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| Lessons and Policy Implications from the Global Financial Crisis Author/Editor: Stijn Claessens, Luc Laeven, Deniz Igan, Giovanni Dell'Ariccia. Release Date:February, 2010 The ongoing global financial crisis is rooted in a combination of factors common to previous financial crises and some new factors. The crisis has brought to light a number of deficiencies in more...
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| Being a Foreigner Among Domestic Banks : Asset or Liability? Author/Editor: Neeltje van Horen, Stijn Claessens. Release Date:December, 2009 Studying a large number of banks in various countries between 1999 and 2006, we document that foreign banks perform better when from a high income country, when host country competition is limited, more...
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| Competition in the Financial Sector : Overview of Competition Policies Author/Editor: Stijn Claessens. Release Date:March, 2009 As in other sectors, competition in finance matters for allocative, productive and dynamic efficiency. Theory suggests, however, that unfettered competition is not first best given the special more...
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| What Happens During Recessions, Crunches and Busts? Author/Editor: Marco Terrones, Ayhan Kose, Stijn Claessens. Release Date:December, 2008 We provide a comprehensive empirical characterization of the linkages between key macroeconomic and financial variables around business and financial cycles for 21 OECD countries over the period more...
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| Banks and Labor as Stakeholders : Impact on Economic Performance Author/Editor: Kenichi Ueda, Stijn Claessens. Release Date:September, 2008 Traditionally, the impacts of the rights of financial institutions and workers on corporate performance have been analyzed independently. Yet, theory clearly indicates that the combination of more...
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| Empirical Evidence on the New International Aid Architecture Author/Editor: Danny Cassimon, Stijn Claessens, Bjorn Van Campenhout. Release Date:December, 2007 We study how 22 donors allocate their bilateral aid among 147 recipient countries over the 1970- 2004 period to investigate whether changes in the international aid architecture?at the international more...
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| International Financial Integration Through Equity Markets : Which Firms from Which Countries Go Global? Author/Editor: Sergio L Schmukler, Stijn Claessens. Release Date:June, 2007 This paper studies international financial integration analyzing firms from various countries raising capital, trading equity, and/or cross-listing in major world stock markets. Using a large sample more...
| Price: $18.00
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